NanoString Technologies, Inc. (NSTG) Earns Buy Rating from Cowen and Company

NanoString Technologies, Inc. (NASDAQ:NSTG)‘s stock had its “buy” rating reaffirmed by analysts at Cowen and Company in a research note issued to investors on Thursday. They presently have a $20.00 target price on the biotechnology company’s stock. Cowen and Company’s target price would suggest a potential upside of 23.84% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday, August 10th. ValuEngine upgraded NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.00.

Shares of NanoString Technologies (NASDAQ:NSTG) traded down 0.68% during mid-day trading on Thursday, hitting $16.15. The company had a trading volume of 79,004 shares. The company’s market cap is $407.04 million. NanoString Technologies has a 12 month low of $13.17 and a 12 month high of $23.45. The firm has a 50-day moving average of $15.03 and a 200-day moving average of $16.94.

NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.17. NanoString Technologies had a negative return on equity of 329.59% and a negative net margin of 44.28%. The firm had revenue of $34.59 million for the quarter, compared to the consensus estimate of $29.87 million. On average, analysts expect that NanoString Technologies will post ($2.12) EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its holdings in shares of NanoString Technologies by 3,731.4% in the 2nd quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 9,142 shares during the period. American International Group Inc. raised its holdings in shares of NanoString Technologies by 7.4% in the 1st quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock worth $182,000 after purchasing an additional 634 shares during the period. Bank of America Corp DE raised its holdings in shares of NanoString Technologies by 16.6% in the 1st quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock worth $227,000 after purchasing an additional 1,627 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of NanoString Technologies by 25.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded NanoString Technologies from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Thursday, August 10th. ValuEngine upgraded NanoString Technologies from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded NanoString Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.00.

Shares of NanoString Technologies (NASDAQ:NSTG) traded down 0.68% during mid-day trading on Thursday, hitting $16.15. The company had a trading volume of 79,004 shares. The company’s market cap is $407.04 million. NanoString Technologies has a 12 month low of $13.17 and a 12 month high of $23.45. The firm has a 50-day moving average of $15.03 and a 200-day moving average of $16.94.

NanoString Technologies (NASDAQ:NSTG) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.17. NanoString Technologies had a negative return on equity of 329.59% and a negative net margin of 44.28%. The firm had revenue of $34.59 million for the quarter, compared to the consensus estimate of $29.87 million. On average, analysts expect that NanoString Technologies will post ($2.12) EPS for the current year.

TRADEMARK VIOLATION NOTICE: This news story was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://ledgergazette.com/2017/09/28/nanostring-technologies-inc-nstg-earns-buy-rating-from-cowen-and-company.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its holdings in shares of NanoString Technologies by 3,731.4% in the 2nd quarter. Bank of Montreal Can now owns 9,387 shares of the biotechnology company’s stock worth $156,000 after purchasing an additional 9,142 shares during the period. American International Group Inc. raised its holdings in shares of NanoString Technologies by 7.4% in the 1st quarter. American International Group Inc. now owns 9,153 shares of the biotechnology company’s stock worth $182,000 after purchasing an additional 634 shares during the period. Bank of America Corp DE raised its holdings in shares of NanoString Technologies by 16.6% in the 1st quarter. Bank of America Corp DE now owns 11,404 shares of the biotechnology company’s stock worth $227,000 after purchasing an additional 1,627 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of NanoString Technologies by 25.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,542 shares of the biotechnology company’s stock worth $257,000 after purchasing an additional 3,132 shares during the period. Finally, Alliancebernstein L.P. purchased a new position in shares of NanoString Technologies in the 2nd quarter worth about $261,000. Hedge funds and other institutional investors own 92.98% of the company’s stock.

NanoString Technologies Company Profile

NanoString Technologies, Inc develops, manufactures and sells intuitive products that unlock scientifically valuable and clinically actionable biologic information from minute amounts of tissue. The Company is engaged in the development, manufacture and commercialization of instruments, consumables and services for profiling the activity of hundreds of genes and proteins simultaneously from a single tissue sample.

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